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Global Outboard Electric Motors Market Share, Size, Analysis, Forecast: By Type: Outboard Electric Propulsion Motors, Outboard Electric Trolling Motors; By Application: Municipal Application, Civil Entertainment, Commercial Applications, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Outboard Electric Motors Market Outlook
The global outboard electric motors market size is expected to grow at a CAGR of 5.20% between 2023 and 2028. The major market drivers include rising demand from the marine industry, environment friendliness of outboard electric motors, and increasing research and development activities by manufacturers.
Key Trends in the Market
An outboard electric motor is a self-contained propulsion system for a boat, that is used to power the boat as well as manoeuvre it. The self-contained unit is an actuation system that includes a gearbox, jet drive or propeller, and engine. Outboard electric motors are often preferred over gas motors because outboard electric motors are light, compact, reliable, and more powerful.
- Use of electricity driven products is increasing rapidly across the globe owing to improved electrification and transformed mobility. This is expected to propel the demand for outboard electric motors with high power and efficient electric drive systems.
- The demand for outboard electric motors is expected to rise owing to the technological improvements and developments in the market, and increasing availability of outboard electric motors with different capacities and specialised features.
- Increasing investments from the governments of various countries towards supporting the development of electricity-driven products to reduce air pollution is contributing towards the expansion of the outboard electric motors market.
Market Analysis
Based on type, the market is bifurcated into outboard electric propulsion motors and outboard electric trolling motors. On the basis of application, the market is categorised into municipal application, civil entertainment, and commercial applications, among others. By region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global outboard electric motors market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Honda Motor Co., Inc.
- Torqeedo GmbH
- Johnson Outdoors Inc.
- Yamaha Motor Co., Ltd.
- Suzuki Motor Corporation
- Ray Electric Outboards Inc.
- Epropulsion
- CSM Tech Co., Ltd
- Others
Market Share by Type
Based on type, outboard electric propulsion motors are expected to account for a sizable share of the outboard electric motors market. Outboard electric propulsion motors offer greater power and speed as compared to outboard electric trolling motors, due to which they are suited for a wider range of applications. They also have higher dynamic horsepower, and are available in different capabilities. Growing prevalence of recreational boating and marine tourism are further increasing the adoption of outboard electric propulsion motors to provide boats with adequate power.
Market Share by Region
North America is anticipated to account for a significant share in the outboard electric motors market because of the early adoption of these motors in the region by a large number of consumers. Moreover, widespread presence of outboard electric motor manufacturers and key players in the region is further supporting the growth of the market in North America. Fishing and recreational boating are prevalent in the region, supported by the vast coastline in North America and numerous water bodies, which is boosting the demand for outboard electric motors.
Competitive Landscape
Honda Motor Co., Inc. is a multinational company that has its headquarters in Tokyo, Japan. Founded in 1948, the company is known for manufacturing and supplying products such as automobiles, luxury vehicles, and scooters, among others.
Torqeedo GmbH was established in 2005 and is headquartered in Bayern, Germany. It is a commercial company that is involved in the designing, manufacturing, and marketing of electric boat motors.
Johnson Outdoors Inc. was founded in 1970 and is based in Wisconsin in the United States. The company is a global manufacturer of outdoor recreational products such as diving equipment, outdoor clothing, watercraft, and camping gear.
Other market players include Yamaha Motor Co., Ltd., Suzuki Motor Corporation, Ray Electric Outboards Inc., Epropulsion, and CSM Tech Co., Ltd, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Outboard Electric Motors Market Analysis
8.1 Key Industry Highlights
8.2 Global Outboard Electric Motors Historical Market (2018-2022)
8.3 Global Outboard Electric Motors Market Forecast (2023-2028)
8.4 Global Outboard Electric Motors Market by Type
8.4.1 Outboard Electric Propulsion Motors
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Outboard Electric Trolling Motors
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Outboard Electric Motors Market by Application
8.5.1 Municipal Application
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Civil Entertainment
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Commercial Applications
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Outboard Electric Motors Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Outboard Electric Motors Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Outboard Electric Motors Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Outboard Electric Motors Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Outboard Electric Motors Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Outboard Electric Motors Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Honda Motor Co., Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Torqeedo GmbH
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Johnson Outdoors Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Yamaha Motor Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Suzuki Motor Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Ray Electric Outboards, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Epropulsion
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 CSM Tech Co., Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Outboard Electric Motors Market: Key Industry Highlights, 2018 and 2028
2. Global Outboard Electric Motors Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Outboard Electric Motors Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Outboard Electric Motors Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Outboard Electric Motors Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Outboard Electric Motors Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Outboard Electric Motors Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2023-2028
18. North America Historical Price Trends and Forecast 2018-2028
19. Europe Historical Price Trends and Forecast 2018-2028
20. Asia Pacific Historical Price Trends and Forecast 2018-2028
21. Latin America Historical Price Trends and Forecast 2018-2028
22. Middle East and Africa Historical Price Trends and Forecast 2018-2028
23. Global Outboard Electric Motors Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 5.20% between 2023 and 2028.
The major market drivers are rising demand from the marine industry, environment friendliness of outboard electric motors, and increasing research and development activities by manufacturers.
The key trends of the market are increasing use of electricity driven products, increasing investments by various governments, and technological developments.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
An outboard electric motor is a self-contained system that is used to power and steer a boat.
The significant applications of outboard electric motors include municipal application, civil entertainment, and commercial applications, among others.
The primary types of outboard electric motors in the market are outboard electric propulsion motors and outboard electric trolling motors.
The key players in the outboard electric motors market, according to the report, are Honda Motor Co., Inc., Torqeedo GmbH, Johnson Outdoors Inc., Yamaha Motor Co., Ltd., Suzuki Motor Corporation, Ray Electric Outboards Inc., Epropulsion, and CSM Tech Co., Ltd, among others.
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